Loan performance continued to
improve in January although the number of delinquencies remains significantly elevated
from pre-pandemic levels. Black Knight’s first look at the month’s loan
performance data has both good news and some that is disquieting. The good news
is a 121,000-loan decline in the number of loans that are 30 or more days past
due but not in foreclosure when compared to the prior month. This reduced the national
delinquency rate to 5.85 percent, the first time the rate has been under 6
percent since the pandemic hit
in March 2020. The number of seriously delinquent loans,
those 90 or more days past due but not in foreclosure, was reduced by 56,000
loans. Black Knight includes loans that are in active forbearance plans in its
delinquency numbers if they are non-current.


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